Our mission statement is the foundation of our service philosophy "To provide superior financial services that will ensure a prosperous environment for members and The credit union."
Our Story
Its early in May, 1936. On a back porch in Englewood Cliffs, NJ, seven Bergen County Teachers decided to put $143.00, all of their savings, into one community pool of funds. Their mission – to "promote thrift to their fellow members and provide a convenient place where the membership could borrow money at a reasonable rate of interest."
Fast forward to 2007. The former East Bergen Teacher’s Federal Credit Union is now Paragon Federal, with branches in Mahwah, West Orange, Westwood, Oakland, Englewood Cliffs, Elizabeth, Franklin Lakes, Union City and Hackensack New Jersey, as well as Mt. Pleasant and Bethlehem, Pennsylvania. It’s one of the largest and most successful credit unions in New Jersey, with over 62,000 members. 70 years later with almost 900,000% growth in membership, our mission today is essentially the same: “to provide superior financial services that will ensure a prosperous environment for members and the credit union."
Our story is just one of many successful stories of member-owned financial institutions that strengthen communities across the nation. By returning profits to members in the form of low or no-cost products and services, credit unions are able to deliver lower rate mortgages and car loans, higher savings returns, and a host of other benefits that traditional banks can’t. At Paragon Federal, our Community Charter allows us to serve members based on where they live, work, worship, or attend school. It’s easy to qualify and so easy to join - just click here to see if your eligible and enjoy the credit union difference with Paragon Federal!
For more information about Paragon Federal and all the benefits of membership for yourself or organization, please call our Member Development Department at (800) 222-8877 or (201) 358-6666, or e-mail staff@paragonfcu.org.
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